Friday, November 22, 2013

Nifty, downtrending, closes below the critical Wk & Day LEmas...


6 comments:

durga said...

good evening MASTER N all blogmates
NIFTY IN RED --MY ACCOUNT IN GREEN
THANK YU MASTER --for the insight you gave me

prakashbkc said...

Master,

WLEMA is 6007 as Low of the week is 5973?

mynac said...

Dear Hitendra,
Friday, November 22, 2013
Nifty Pre-Market View.
BankNifty shows a 5-wave "being" completed. Similar observations could be made for Nifty too.
This being a simple observation of pattern, the corrective rise for the 5 wave could take many forms such as a flat, zigzag or even a running correction.
Trend being strongly down, DLEma & WLEma are the key numbers for the day.
Immediate resistances are the running correction zone of "iv"th wave @ 6027-55.
Immediate support for "v", in case trades below "6031" @ open is "5957-68".
Failure to find a ST bottom @ 5946(golden retrace) would indicate weakness towards 200dsma(5862) & lower..

Raghavendra said...

@ Prakash,

Week Low EMA of 6007 was for the Week ending 14th November.
Week Low EMA of 5995 is for the week ending 22nd November.

Raghavendra

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